Speymalt Whisky Distributors, which trades as Gordon & MacPhail, has reported a surge in profits on strong export and UK sales growth.

The Elgin-based company said export sales rose 21 per cent to £6.1 million in the year to February 29, 2012, and UK sales rose six per cent to £16.1 million.

Overall, sales were up 9.7 per cent on the previous year to £22.3 million.

Exports sales rose to £6.1 million for the year to February 29 and UK sales were up nearly six per cent to £16.1 million.

Gross margins rose from 32.5 per cent to 34.8 per cent, which helped to lift pre-tax profits 29 per cent to £3.03 million.

Speymalt said its investment and marketing in Benromach, originally acquired in 1993, included sponsorship of the National Theatre of Scotland's sell out production of 'The Strange Undoing of Prudencia Hart' has helped to lift sales 15 per cent in the year.

The malt is now sold in 38 countries globally.

The company almost halved its net debt in the financial year to £636,983 from £1.22 million.

Speymalt said increased competition has put pressure on price and margins but adds its continued investment in its product range, with an emphasis on quality, will enable the firm to improve its “strong market position”.